CNN
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Seven-time Super Bowl champion Tom Brady has joined the ranks of NFL team owners after his purchase of a minority share of the Las Vegas Raiders, the NFL has announced.
Brady’s purchase, which the Associated Press reports is for a 5% ownership stake in the franchise, was approved Tuesday at a meeting of NFL owners in Atlanta.
“I’m incredibly humbled and excited to have been unanimously approved as an owner of the Las Vegas Raiders,” Brady said in a post on social media.
“I’m eager to contribute to the organization in any way I can, honoring the Raiders’ rich tradition while finding every possible opportunity to improve our offering to fans… and most importantly, WIN football games.”
NFL Commissioner Roger Goodell welcomed Brady’s investment at the Fall League Meeting on Tuesday in Atlanta.
“It’s great that Tom Brady wants to invest in the NFL,” Goodell told reporters. “He cares deeply about this game. He believes in its future, and I think that’s just a signal of that.”
The purchase was first reported nearly a year and a half ago, but required the approval of at least three quarters of the league’s owners to become official. Multiple media outlets reported that the approval was delayed due to questions about the valuation of Brady’s share of the club as well as concerns about Brady’s role as a broadcaster for FOX.
Unlike other game broadcasters, Brady will be restricted from attending “in-person or online broadcast production meetings and may not have access to team facilities, players or coaches,” according to the AP. Brady will reportedly be prohibited from publicly criticizing officials and other teams, but is allowed to broadcast Raiders games.
Brady is in his first season as a commentator on FOX’s marquee broadcast team after his retirement following the 2022 NFL season.
Brady’s purchase agreement also prohibits the 47-year-old from returning to the NFL as a player unless he sells his share of the team first, per the AP.
During his 23-year playing career, the future hall of famer set almost every passing record, including regular season passing yards (89,214) and passing touchdowns (649). Brady was league MVP three times and amassed the most wins of any player in NFL history (251).
The purchase agreement with the Raiders is the second partnership between Brady and Raiders owner Mark Davis. In March 2023, it was announced that Brady had acquired an ownership stake in the WNBA’s Las Vegas Aces, also owned by Davis.